The petty cash fund of Pronghorns Auto Repair Service, a sole proprietorship, contains the following....
50.1K
Verified Solution
Link Copied!
Question
Accounting
The petty cash fund of Pronghorns Auto Repair Service, a sole proprietorship, contains the following. 1. Coins and currency $18.40 2. Postage stamps 6.10 3. An I.O.U. from Richie Cunningham, an employee, for cash advance 43.20 4. Check payable to Pronghorns Auto Repair from Pottsie Weber, an employee, marked NSF 37.20 5. Vouchers for the following: Stamps $ 23.20 Two Rose Bowl tickets for Nick Pronghorn 197.00 Printer cartridge (Use the Office Supplies account) 17.55 237.75 $342.65 The general ledger account Petty Cash has a balance of $350. Prepare the journal entry to record the reimbursement of the petty cash fund. (Round answers to 2 decimal places, e.g. 15.25. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.